Is the pullback in U.S. natural gas prices overdone?
January 14, 2026
(Investing) – The decline in U.S. natural gas prices appears excessive given the market’s underlying fundamentals, according to Morgan Stanley. Analyst Devin McDermott said prices have retreated around 35% from December highs, but “prices have pulled back too far,” even after accounting for milder weather and a brief supply pickup. Morgan Stanley now forecasts Henry Hub at $4.25 in 2026, “~22%
